Small Business User

The Loan Office has really helped to make us look more professional in the eyes of our borrowers, and it has saved me a lot of time.

Pros

1. interacts easily w/ QuickBooks
2. allows me to send borrower statements directly from TLO
3. much easier to produce payoff demands

Cons

1. if it embedded a bit different calendar/reminder platform, that would add a lot of value to me.
I separately run "Remind Me," but this isn't a big deal.
2. annual cost for software support and for upgrades seems high. Now that I know how to use it, I am guessing I won't call in more than twice a year.
3. I would love to be able to use TLO from home and my office, ie, log into the same TLO platform and use it whereever suits my schedule that day. I understand the need to prevent multiple users from sharing the same license, but I am a one-man shop and there has to be a way to do this.

Glad we made the switch!

We have been very happy with our installation of TLO. The support from Wyatt Gilbert, Ramiro Ruiz and JoAnn was fantastic. They answered endless questions while we were making our decision, and supported us every step of the way during implementation. Our processes are much more efficient, our information on files is more consistent and easier for staff to access. Since bringing TLO online, we have been able to successfully expand our territory without any added staffing expense. Loan Office was easy for staff to learn to use, and the integration with Quick Books is nearly seamless.

Pros

Ease of use, ability to store & organize attached files, multi user capability. The integration with Quick Books for exporting payment transactions is smooth.

Cons

The Reminders section is not as flexible, or visible as we would prefer. The custom reporting component is not user friendly, even with an experienced Crystal Reports user.
We use the custom fields extensively, but find it difficult to report on those fields

I couldn't be happier with this software - it does everything I need

I'm really happy with the software. It's very easy to use, very easy to learn, and I really like the technical support people - they are always very fast, courteous, and friendly. No complaints at all. I would recommend this product highly.

Pros

It's just very easy to use, and the reports and statements are very professional.

Cons

I don't have any negatives at all.

Great loan software

Pros

I really like that you can have separate databases for customers depending on what company you're using. The ability to edit the letters , the reports, and the price

Cons

That it doesn't integrate with an online account for the customer to view their balances and make their payments

The Loan Office software is awesome!!

I have been using The Loan Office software for several months and very pleased with it. The customer support and tech team are excellent! They are great to listen and trouble shoot any questions that I have and they follow up to make sure that my questions were resolved and everything is running smoothly. It's awesome to have everything in one place from customer & property information to printing our loan packet for closing to insurance and funding! Its very user friendly and again the tech support is fantastic! This program for our company has been a great assist in growing our company!!

Supports my loan servicing very well

Pros

Learning curve was reasonable and it supports what I need done.

Cons

Happy with its functionality so I have no cons

Our small portfolio!

We are an Asset Management firm that is currently servicing ~140 loans. This program has been great for our needs. It was easy to load all the loans and the day-to-day management/operation is very simple.

Pros

The program is very user friendly and simple to use.

Cons

There is not really anything I don't like. It serves our needs.

First Caribbean based user

We are a small company based in the Caribbean that gives personal micro loans. The Loan Office is very cost effective and with the link to QB it's the perfect software for us. Whenever we have a problem we just e-mail our questions and our friendly and always helpful customer supporter will either call us or email us in the stipulated time frame. We love how we can process the payments and keep track of the delinquent borrowers. We are very pleased with the software and it helps us achieve our business goals.

Pros

When you have a company that gives loans the most important part in the whole process is the collection. We are pleased with the borrower late report. It gives us an update daily, so we know exactly who is late with its payment.

Cons

We haven't been using the software that long so we exactly know what does not please us.

Loan Office Review

Overall I have really enjoyed using the Loan Office. This is the first time I have ever used a program like this. It is fun!

Pros

Ease of use. User friendly. It seems to do the work for you.

Cons

Not being able to process a report that I needed.

Best option in the market.

Before using Loan Office we tried 2 diferent softwares. Loan Office makes our operation better.

Pros

It is a very complete and easy to use software.
The platform is very friendly.

Cons

No comments. Our team feels comfortable using it.

The Loan Office Review

The benefits for me is having the ability to track insurance, property taxes, and occupancy requirements. I can easily keep on top of who I need to contact by running a report.

Pros

The loan monitoring tools, payment statements, reports and the techs who contact me from support have been very knowledgeable and helpful.

Cons

I need to call and leave a message for support and wait for a call back.

Great flexibility

I love the flexibility the Loan Office gives me. I make community development micro business loans. I can configure a loan with multiple payback features - initial term of interest only, fixed payments, remainder amortized, balloon payments, etc... and be able to produce an accurate repayment schedule for the closing. I can email statements from right inside the program, which is handy. The reports and notices are a pain to customize (in MS Word), but that is my only complaint. My portfolio is very small, so I generally do personalized collections notices anyway. The ability to only have one funder per loan is not a problem since LLC all investments are pooled and member returns are figured on the entire portfolio, not per loan. We could also service a specific loan for an LLC member if they wished to invest outside of the pool, but we haven't done this yet. The customer service/ tech support guys are very helpful and have promptly addressed any difficulties I've sent their way. I used another, less expensive program, for about ten years, but the flexibility to create loan terms that work for my borrowers makes the additional cost very worthwhile.

Easy to use and affordable

We only have a small number of mortgage loans that we service and this software was extremely affordable and a lot easier to use than our previous software or others that we found in our research.

Pros

This software is very easy to use and intuitive. If help is needed The Loan Office Users Guide is very helpful.

Cons

There is no easy to use custom reporting feature, however we were told that up-front.

The Loan Office, User Friendly

We were in the market to change our loan software. We did internet searches and found The Loan Office. We received great service from the start with the webinar introducing the product. Everything was very clear, and there was a time devoted to answer our questions.

Pros

It is very user friendly, and we can now access reports better than the previous software.

Cons

Thus far I do not have any negative responses.

Excellent product and well worth the money

I just want to let you know how much this program has improved my bookkeeping. I have been managing approximately 15 owner financed homes for the last 4 years. The company was losing on so much interest and late fees by keeping it manually. When I previewed this program, I knew that this would help a bunch. It not only keeps my records but it also shows the Lender his investment and his monthly interest that he is making on each note. Wyatt Gilbert was so nice and helpful with the purchase of the program and all the way up to, "OMG.Wyatt I crashed my whole system, please help!!! He was always willing to help me, even while he was out of town and on weekends. Overall, I am very pleased and would definitely recommend this program to anyone who carries and services notes. Excellent product and well worth the money.

I was Hesitant at First...

I was hesitant at first to switch my software. My old software was outdated and lacked many features I needed to take my business to the next level. I found The Loan Office online and it looked too good to be true, Had more features than I was ever going to use. I contacted Wyatt Gilbert , he walked me through the steps and Demo. I expressed my concern about switching and that I might end up making a mistake, but Wyatt assured me that customer support was just a phone call away and not to worry. Well he was right , I got to say that Customer Service is a five star service. Didn't matter what my questions were they always had a immediate solution. These guys have it together. I would never turn back. The loan office and my company are married for life...Thank you

My small company utilizes this software to service our loan portfolio of around 30 loans.

Ease of reporting. The ability to send Payoff Letters and Borrower Payment Statements directly from the software.

Pros

I like that its fairly straight forward and that we can set up templates to use when setting up new loans.

Cons

It takes a day or 2 to hear back from Customer Support. Its also complicated to set up already existing loans to the system.

Cost effective and User friendly

We needed to replace our old software that was no longer supported and expected to pay $20-$30k for an upgrade or a new system. With only 25 loans in our portfolio we were thrilled to find this cost effective solution. More importantly it is very user friendly, so given a brief "tour" of the system provided us with enough information to get us up and running. When we did have questions, the customer service has been friendly and helpful. We've been able to add our company logo to some of the reports and coupons and they look very professional. The reports offer a lot of flexibility and there are many other excellent features in the system.

Fabulous!

I have used many servicing systems and the Loan Office is absolutely the best for our needs! The development of this cutting edge software was well thought out and is very easy to use. The reporting is wonderful, there are more bells and whistles than I can name and all of this is out of the box! The statements, letters and reports are very professional and look great! The only con to the software would be escrow limitations, but in the big picture, it sets the standard for every other need. The sales team and support really know this software, which is most helpful. I highly recommend the Loan Office .it does not disappoint!!

This software is a wonderful upgrade from previous software we used.

There's a learning curve, of course, but it's basically been easy to use and our "mistakes" have been correctable. We were up and running in no time.

Pros

The ease of navigating the fields.

Cons

The help sections could be a bit more specific (for us newbies)